Transparency Market Research: The rise in the use of trichloroethylene (TCE) in a wide variety of applications such as spot-removal solvents, degreasers, and hydrofluorocarbon refrigerants is likely to impact the global trichloroethylene market positively. Government stimulus packages and initiatives designed to assure business continuity in the BFSI sector are benefitting stakeholders in the trichloroethylene market. They are stepping up their attempts to commercialize market volatility by implementing the plug-and-play approach in manufacturing.
The use of trichloroethylene has increased moderately, as the global demand for general solvents, conventional degreasers, and fluorocarbons has increased. The growth of the global trichloroethylene market is likely to be influenced by a considerable increase in demand and production for spot-removal solvents. The demand for trichloroethylene is also being propelled by the rising demand for degreaser applications and hydrofluorocarbon refrigerants.
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The global trichloroethylene market is expected to expand at a CAGR of 0.9 % during the forecast period, from 2021 to 2031. By 2031, the market is estimated to value US$ 641.52 Mn. Manufacturers are developing consistent income streams in the adhesion business.
Key Findings of Market Report
- Cold Cleaning Applications and Heavy Duty Vapour Degreasing to Boost Demand for TCE
Cold cleaning and degreasing applications provide a constant stream of revenue for trichloroethylene market participants. Westlake, a plastic and chemical producer, is expanding its TCE range, which is utilized for vapour degreasing and liquid oxygen flushing. Cold cleaning applications and heavy duty vapour degreasing are fuelling the need for general solvent grade trichloroethylene.
Trichloroethylene manufacturers are expanding the supply of high purity grade TCE so as to produce minimal residue solvents for liquid oxygen flushing, chemical synthesis, and cleaning electronic components. Trichloroethylene of fluorocarbon grade is being promoted as a feedstock. As a result, for TCE supply, safe production as well as years of handling expertise is required. Thus, manufacturers are taking public safety and environmental concerns into account.
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- Trichloroethylene of Superior Quality Assists Manufacturers in Attracting More Customers
Businesses in the global trichloroethylene market are expanding their liquid TCE production capacity for commercial applications such as the development of industrial solvents. As trichloroethylene is related to possible hazards to the environment and human health, trichloroethylene manufacturers are implementing industry-wide best practises for trading and supplying high-quality chemicals.
Manufacturers of trichloroethylene, on the other hand, are increasing manufacturing of pure TCE. Companies are delivering top grade TCE at affordable rates in order to obtain competitive advantage over other producers.Quicker turnaround times are being sought by manufacturers in order to guarantee long-term supply networks with customers, clients, and partners. Such strategies assist manufacturers in gaining a large customer base, which can lead to market domination. Trichloroethylene is in high demand due to the rising need for heat exchange liquids.
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Trichloroethylene Market: Growth Drivers
- Trichloroethylene (TCE) is a chemical that is usually employed in commercial and industrial operations. It is used to degrease metal components while manufacturing of a range of items. Stain removers, paint removers, adhesives, and certain wood finishes are all examples of consumer items that contain TCE. It is also useful in the production of a variety of compounds.
- In corrosion prevention, trichloroethylene is utilised as a paint removal fluid. Paints used to shield a substrate metal against infiltration frequently hit the end of its useful lifespan or start to degrade. In the forthcoming years, the paint remover sector is expected to increase at a stable rate, which is likely to drive the demand for TCE.
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Trichloroethylene Market: Key Competitors
Some of the key market players are
- The Dow Chemical Company
- Kanto Denka Kogyo Co. Ltd.
- Westlake Chemical Corporation
- Acuro Organics Limited
- Befar Group Co. Ltd.
- Sankyo Chemical Co. Ltd.
- Toagosei Co. Ltd.
Trichloroethylene Market: Segmentation
Grade
- Standard Degreasing and General Solvent
- Dual-purpose
- High Purity
- Fluorocarbon
Manufacturing Process
- Oxychlorination
- Chlorination
Application
- Degreaser
- Hydrofluorocarbon Refrigerant
- Spot-removal Solvent
- Adhesive
- Paint Remover
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